The Art of Monetary Policy

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Foreword
Acknowledgments
Introduction: The Art of Monetary Policy	p. 3
The Human Factor and the Fed	p. 21
Change and the Art of Monetary Policy	p. 33
The Limitations of Monetary Policy	p. 41
A Primer on the U.S. Banking Situation	p. 57
Outlook for the Banking and Financial System: The Year 2000	p. 65
The Fed: Reconciling Autonomy and Democracy	p. 75
Monetary Policy as Viewed by a Money Market Participant	p. 85
A Monetarist's Confession	p. 101
The Implementation of Monetary Policy	p. 109
Debt Management	p. 121
The Federal Open Market Committee in Action	p. 135
The Globalization of World Financial Markets	p. 149
A Trader's View of the Foreign Exchange Market	p. 161
Monetary and Exchange Rate Policy Implementation	p. 171
Fixed Versus Fluctuating Exchange Rates	p. 187
International Coordination of National Economic Policies	p. 195
Index	p. 203
About the Contributors	p. 211
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